Monday, April 6, 2009

Old Boss, Same as the New Boss...

Timothy Geithner. You know him, you love him, he owes you money.

Ok well, 2 outta 3 aint bad.

Do a search on Timothy Geithner, you'll be astounded at what you end up finding. For instance, according to the wikipedia entry on Timothy Geithner as of 04-03-2009...At the Senate confirmation hearings, it was revealed that Geithner had not paid $35,000 in self-employment taxes for several years, even though he had acknowledged his obligation to do so, and had filed a request for, and received, a payment for half the taxes owed. The failure to pay self-employment taxes was noted during a 2006 audit by the Internal Revenue Service (IRS), in which Geithner was assessed additional taxes of $14,847 for the 2003 and 2004 tax years. Geithner also failed to pay the self-employment taxes for the 2001 and 2002 tax years until after Obama expressed his intent to nominate Geithner to be Secretary of Treasury. He also deducted the cost of his children's sleep-away camp as a dependent care expense, when only expenses for day care are eligible for the deduction. Geithner subsequently paid the IRS the additional taxes owed, and was charged $15,000 interest, but was not fined for late payment. As President of the Federal Reserve Bank of New York, Geithner annually completed an ethics statement noting any taxes due or unpaid, along with any other obligations. Geithner's completed statement did not surface during confirmation hearings.

In a statement to the Senate panel considering his nomination, Geithner called the tax issues "careless," "avoidable" and "unintentional" errors, and he said he wanted to "apologize to the committee for putting you in the position of having to spend so much time on these issues."

This is the same man whom Former Secretary of Treasury, Henry Paulson called "An unusually talented young man."While one would tend to think of such persons responsible for the entirety of the United States monetary purse strings as needing to possess qualities defined as "honest," "careful", "meticulous", and "good with money." And yet, it seems that the best, most qualified individual the current administration can come up with is a man who cant figure out how to efficiently use a computer program (Geitner implied on several occasions that he tried to use turbotax to do his yearly federal income taxes...) designed for ease of use by a wide swath of Americans of every different stripe, creed, religion, race and intellectual acumen.

In my slightly over rigorous mind, I tend to group things in terms of bayesian probability. Now before we start having violent flashbacks of the standard statistics classes in college, try this. Draw two circles that overlap a bit in the middle, and label the first one A and the second one B. Lets put the fact that Timothy Geithner is running one of the most important organizations in the world in one circle. lets put the fact that he was nominated by a president with a messiah like following, from a list that contained some of the greatest minds in economic thought ever in the same circle. Lets also put the fact that he was highly praised by his predecessor as being a genius, capable, and unusually talented, in that circle.Now, in the other circle, lets put the fact that he can't use turbotax, a program which is designed to be "easy to use." In that same circle lets put the fact that he does not have an undergraduate degree in economics, nor did he when he went to work at the treasury department. Lets put the fact that he bares more than a passing resemblance to the psychotic mob don "Santino Sonny Corleone" in that same circle. Finally, lets put the fact that his annual ethics statements Mr. Geithner completed for the Treasury Department almost certainly contained significant "discrepancies" over his federal income taxes.

Now if we label the first circle A and the second one B, and we are looking for an explanation that encompasses everything within these two circles, what fits all of the above? The various possibilities look like this.A. The administration screwed up-he's imcompetent (This means that we ignore circle A, in favor of circle B.)B. He's a genius, and this whole not paying taxes thing for 8 or more years, is just an aberration (This means that we ignore circle B in favor of circle A.)C. None of the above, there is some other agenda that we are missing. (This means that either both A and B are true, or possibly, none are true.)

Well, what any good statistics nerd will tell you is, "we need more data before we can proceed."As luck would have it, we can all use our best infomercial voices and exclaim in a loud voice and commanding voice. "BUT WAIT THERES MORE!!"

It turns out that Timothy Geithner began his career at Kissinger Associates Inc. Run of course, by Henry "The illegal we do immediately. The unconstitutional takes a little longer." Kissinger.Yes, that is the same Kissinger who wrote "How to Achieve The New World Order." as the title of a book recommendation.Henry Kissinger has been a stalwart of the political elite to all the way back to the 1960's. He is considered by most to be the ultimate Washington D.C. insider, The big league string puller, the big kahuna of politics, the gordita burrito of technocrats.He is also considered by many to be one of the leading men to push for a one world government, and Timothy Geithner worked for him.From there, Mr. Geithner went to work at the Treasury Department, taking some time off to accept a nomination to work in the somewhat inappropriately named Council on Foreign Relations econometric research department.

To review, The Council on Foreign Relations, (of whom Dr. Kissinger is a major player in) is a nongovernmental organization which seeks to influence government officials, civic and religous leaders, journalists, business executives, educators and others to further their agenda. Rear Adm. Chester Ward was a member of the CFR for 16 years. He later tried to warn the American people as to the true intentions of this organization. He said:

"The most powerful clique in these elitist groups have one objective in common – they want to bring about the surrender of the sovereignty of the national independence of the United States. A second clique of international members in the CFR comprises the Wall Street international bankers and their key agents. Primarily, they want the world-banking monopoly from whatever power ends up in the control of global government."

With this strikingly dark backdrop in mind, has anyone thought to check Mr. Geithners underpinning thoughts on economics and international finance? Where do his understanding of global markets of all kinds come from? Should I be worried?

Mr. Geithner is a staunch supporter of using the government to prop up big business, by using the unilateral power of government to invest heavily in the private sector. Because of this, one can look at Timothy Geithner, (like his counterpart at the FED) as strictly Keynesian in economic thought.So, who is John Maynard Keynes you ask?John Maynard Keynes was an economist that advocated government intervention as the most efficient way to allocate resouces.John Maynard Keynes was also a member of the fabian society. The fabian society are a group of like minded intellectuals who claim socialism as their highest and ultimate goal. These socialists depart from the lightning strike tactics characterized by both Russia/Chinese communism and German/Baathist Nazism. Though they disagree on tactics they agree on the ends. Fabian socialists believe in an incremental movement towards socialism, largely undetectable to the average citizen. Speaking about the world as we know it, the fabians motto was immortalized in a stained glass at the Fabians former headquarters as "Remould it nearer to the hearts desire."Mr. Keynes was also a eugenicist. Not just a little bit of a eugenicist either. He was serious about it. While in school, he was the treasurer of the Cambridge Eugenics Society. He even went so far as to call the mass slaughter and chemical castration of those "undesirables" of society “the most important, significant and, I would add, genuine branch of sociology which exists.”Eugenics had many proponents, including: Margaret Sanger (founder of Planned Parenthood), H. G. Wells, Woodrow Wilson, Theodore Roosevelt, Emile Zola, George Bernard Shaw, John Maynard Keynes, William Keith Kellogg, Winston Churchill, and Sidney Webb.Its biggest proponent to use it extensively was Adolf Hitler, when he centrally planned and methodically carried out the extermination of 6 million Jews and 6 million other people, called the Holocaust.Economically Keynes said that the solution to a depression was to stimulate the economy ("inducement to invest") through some combination of two approaches: a reduction in interest rates and government investment in infrastructure. Investment by government injects income, which results in more spending in the general economy, which in turn stimulates more production and investment involving still more income and spending and so forth. The initial stimulation starts a cascade of events, whose total increase in economic activity is a multiple of the original investment.Yet, ever since the great depression, Keynes's theories have been proven wrong again and again. My favorite is when in 1971, stagflation occurred. According to Keynes, stagflation was highly unlikely, nearly an impossibility. Imagine the shock to the many keynesian economists when it occured in the mid 1970's. Yet, rather than unburden oneself by admitting a theory wrong, then searching for, and adopting truth, the intellectual powers that be just invented a new name to describe what was happening.Unfortunately, as main street yawns at the news that presumably, the Federal Reserve is now under control of the International Monetary Fund, complete with Sean Hannity and Dick Morris vindicating the most extreme voices campaigning against a One World Government, We appear to have solved a most interesting problem regarding our new Treasury Secretary. We know that Timothy Geitner likes not paying his taxes, and we know he is highly praised from his counterparts. We know that he thinks alot of Keynesian economics, and may concievably even be sympathetic to eugenics. We also know he is asking for near dictator like powers unrevocable by congress.The answer to our little math problem is C. The answer is CThat which I fear most is that the extra credit answer to this problem was written about by the apostle John almost 2000 years ago on the Island of Patmos."And I saw, and behold, a pale green horse, and the name of the one sitting on it was Death; and Hades followed after him. And authority was given to them to kill over the fourth of the earth with sword, and with famine, and with death, and by the wild beasts of the earth. " Revelation 6:8

Next question...

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